BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $1.98 Million Stake in Allegion plc (NYSE:ALLE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Allegion plc (NYSE:ALLE) by 60.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,760 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,287 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Allegion were worth $1,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALLE. Distillate Capital Partners LLC acquired a new position in shares of Allegion during the second quarter valued at about $13,662,000. Marshall Wace LLP acquired a new position in Allegion during the 2nd quarter valued at about $5,423,000. Bank of Montreal Can increased its holdings in Allegion by 56.2% during the 2nd quarter. Bank of Montreal Can now owns 160,446 shares of the scientific and technical instruments company’s stock worth $18,960,000 after purchasing an additional 57,744 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Allegion by 40.6% in the second quarter. Magnetar Financial LLC now owns 10,026 shares of the scientific and technical instruments company’s stock worth $1,185,000 after purchasing an additional 2,897 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Allegion by 64.4% in the second quarter. Public Sector Pension Investment Board now owns 3,348 shares of the scientific and technical instruments company’s stock valued at $396,000 after purchasing an additional 1,312 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of analyst reports. Barclays increased their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $125.40.

Allegion Price Performance

Shares of NYSE:ALLE opened at $143.77 on Friday. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $146.46. The company’s 50-day moving average is $135.66 and its 200 day moving average is $128.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The company has a market capitalization of $12.57 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. On average, equities research analysts forecast that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. Allegion’s payout ratio is presently 31.32%.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.